- The company has shipped pre-trade quantities of full-spectrum CBD oil containing THC to support full-spectrum product development for the Brazilian market.
Toronto and RIONEGRO, ColombiaAnd the 6 June 2022 / CNW / – PharmaCielo Ltd. (“PharmaCielo” or “the Company”) (TSXV: PCLO) (OTCQX: PCLOF), the Canadian parent of Colombia PharmaCielo Colombia Holdings SAS (“Holdings”), the leading producer of dried flowers and medical-grade cannabis extracts, today announced an initial shipment of a full-spectrum CBD extract with THC content to an established Brazilian pharmaceutical company (“Customer”) to support Additional product development efforts, with the potential to become a major supplier when these products are brought to market.The customer is expected to develop a full spectrum CBD product and bring it to market using the PharmaCielo API 1.
This is the second product developed by this customer using PharmaCielo APIs. The first, which uses a PharmaCielo CBD isolate as an API, It is currently under review by Anvisa and is expected to be approved in the next several months, with a product launch in Brazil Shortly after approval.
management comment
Bill PetroneCEO of PharmaCielo, He commented, “We are delighted to support our partner at Brazil They seek to develop a full-spectrum CBD product. With a population of over 200 million and very few Anvisa-certified cannabis products to date, we expect Brazil To continue to develop into an important market for medical cannabis. PharmaCielo is positioned to play an important role as the preferred supplier of cannabis-based APIs in the country, as the number of patients continues to grow and new products such as those being developed by our partner are commercialized. By entering into relationships with major global pharmaceutical companies such as our partner in BrazilWe expect to maximize our opportunity to scale the PharmaCielo API business. We are confident that with the progress made so far and our customers’ existing pipeline, 2022 will be a pivotal year for PharmaCielo as we move to scale our platform with the goal of delivering revenue growth and shareholder value.”
interest shares
The Company also announced today that it intends to issue 474,058 ordinary shares of the Company (“Interest Shares”), subject to approval by the TSX Venture Exchange, at an effective price of 0.5605 dollars Each stake has an interest, to the total satisfaction of $265,702.74 In semi-annual interest payments due to holders of 11% secured company bonds due December 24, 2024 (“Bonds”). The actual price of the interest shares was determined by dividing the cash interest otherwise payable by the number of shares issueable under each bond project, as defined in June 1, 2022 According to the terms of the bonds.
Interest shares are subject to the balance, if any, of the 4 month statutory holding period applicable to the relevant Bond Draft under the Canadian Securities Laws.
|
__________________________________ |
|
1 Active Pharmaceutical Ingredients |
About PharmaCielo
PharmaCielo Ltd. (TSXV: PCLOOTCQX: PCLOF) is a global company headquartered in Canada, focusing on ethical and sustainable processing and supplying all natural, pharmaceutical grade medicinal cannabis products to large channel distributors. PharmaCielo’s main (and wholly owned) company is PharmaCielo Colombia Holdings SAS, headquartered in the cultivation and processing center located in Rionegro, Colombia.
The Board of Directors and Executive Team of PharmaCielo is comprised of a talented group of international entrepreneurs and professionals with relevant and diverse experience. PharmaCielo realized the important role that Colombia The ideal location plays a role in building a sustainable business in the medical cannabis industry, and the company, along with its directors and CEOs, is implementing a business plan focused on supplying the international market.
forward-looking statements
This news release contains forward-looking statements. Forward-looking statements may be identified by using words such as “expect,” “expect,” “intend,” “expect,” “believe,” or variations of such words and phrases, or state that certain actions, events or results “may” or “Will” be taken, made, completed, or fulfilled.
Forward-looking statements could be affected by known and unknown risks, uncertainties and other factors, including changes in PharmaCielo’s development plans, failure to obtain and maintain all necessary regulatory approvals relating to the export and maintenance of cannabis products and the import of such products into other countries, approval of the TSX Venture Exchange, and the inability to to export or distribute commercial products through sales channels as expected due to economic or operational conditions, and the risks associated with operating in Colombiafluctuation in the market price of the Company’s products, risks associated with global economic instability related to COVID-19 or other developments, risks related to retention of key Company employees, currency exchange risks, competition in the PharmaCielo market and other risks discussed or referred to under the heading “Risk Factors” On PharmaCielo’s annual information form for the ended fiscal year December 31, 2019which is available at www.sedar.com. Accordingly, readers should not place undue reliance on forward-looking statements. Except as required by law, PharmaCielo undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise.
Neither TSX Venture Exchange nor the Regulatory Services Provider (as defined in the TSX Venture Exchange policies) accept responsibility for the adequacy or accuracy of this press release.
SOURCE PharmaCielo Ltd.
For more information: Ian Atakan, Chief Financial Officer, +1 416-562-3220, [email protected]; Media and investor inquiries: [email protected]
.
